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November 15, 2024 |
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| Home > Small Business Lenders by State > Missouri Business Loan Sources > Philadelphia, Business Loans > Pnc Bank, National Association Philadelphia Business Loans > Durable Goods Merchant Wholesalers Loan | ||||
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Pnc Bank, National Association
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Fenton, Missouri Business Gets SBA-Guaranteed Funding from Pnc Bank, National AssociationPnc Bank, National Association and the SBA work together to get business loans for growing small businesses. Here's an example of how a Missouri entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Fenton, Missouri, they applied for and received an SBA-guaranteed loan in 2008. The lending bank was Pnc Bank, National Association, based in Philadelphia, Pennsylvania. SBA Loan Borrower COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender PNC BANK, NATIONAL ASSOCIATION This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 423990 - Durable Goods Merchant Wholesalers Loan Approval Date 2/5/2008 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Good Banks for Small Business in Philadelphia, Pennsylvania
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